IFC ready to finance Lankan private sector
Country Manager meets top corporate executives:
The International Finance Corporation (IFC) is ready to finance Sri
Lanka's private sector projects by providing mid to long term loans via
multiple financing methods.
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Mrs. Ameena Arif, speaks at the meeting. CCC Chairperson
Samantha Ranatunga and Mrs. Dhara Wijayatilake, CEO of the
Chamber look on. |
IFC Country Manager for Sri Lanka and the Maldives, Ameena Arif, the
guest speaker at the main committee of the Ceylon Chamber of Commerce,
told members that her organization would provide loans for 'development
oriented projects' by the private sector.
The main committee consists of around 30 top corporate executives and
industry leaders, who meet every month to discuss the status of the
Lankan economy. "The loan component for potential partners would start
from around US$ 3 million, but they need to be 'development oriented',"
she stressed.
"Our program in Sri Lanka has dimmed in recent years, as the private
sector has held back a little. We did not see much demand from the
private sector," she said.
IFC, an arm of the World Bank, engaged in financing private sector
projects, is ready to look at financing ventures in the areas of energy,
agriculture, new tourist hotels in the North and the East or any new and
innovative development oriented projects.
"We are also ready to focus on IT and tech startups," Arif said.
She said Sri Lanka needs to capitalize on its geographical advantage
and its status of being the most neutral country in South Asia, to boost
economic growth. |
